Transocean Ltd. (RIG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$0.01	$0.03	+200.0%	—	—	—
Q3 26	$0.08	-$0.03	-137.5%	—	—	—
Q2 26	$0.07	$0.02	-71.4%	—	—	—
Q1 26	$0.03	$0.06	+100.0%	—	—	—
Q4 25	-$0.03	$0.02	+166.7%	—	—	—
Q3 25	-$0.1	-$0.07	+30.0%	—	—	—
Q2 25	—	$0.04	—	—	—	—
Q1 25	-$0.04	$0.07	+275.0%	—	—	—
Q4 24	-$0.1	-$0.15	-50.0%	—	—	—
Q3 24	-$0.14	-$0.03	+78.6%	—	—	—
Q2 24	-$0.24	-$0.09	+62.5%	—	—	—
Q1 24	-$0.23	-$0.36	-56.5%	—	—	—
Q4 23	-$0.14	-$0.15	-7.1%	—	—	—
Q3 23	-$0.22	-$0.38	-72.7%	—	—	—
Q2 23	-$0.21	-$0.49	-133.3%	—	—	—
Q1 23	-$0.17	-$0.06	+64.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$3.04	—	—	$4B	—
FY24	—	-$0.6	—	—	$3.5B	—
FY23	—	-$1.24	—	—	$2.8B	—
FY22	—	-$0.89	—	—	$2.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4.2B	$3B	$3B	$3.1B	$3.2B	$2.6B	$2.6B	$2.8B	$3.5B	$4B
YoY change	-43.7%	-28.6%	+1.51%	+2.32%	+2.07%	-18.9%	+0.74%	+9.98%	+24.4%	+12.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4.2B	3B	3B	3.1B	3.2B	2.6B	2.6B	2.8B	3.5B	4B
Cost of revenue	893M	832M	818M	855M	781M	742M	735M	744M	739M	659M
Gross profit	3.3B	2.1B	2.2B	2.2B	2.4B	1.8B	1.8B	2.1B	2.8B	3.3B
Gross margin	78.5%	72%	72.9%	72.3%	75.2%	71%	71.5%	73.7%	79%	83.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	172M	156M	188M	193M	183M	167M	182M	187M	214M	195M
Operating expenses	2.1B	1.5B	2B	2.3B	2.2B	1.9B	1.9B	2.2B	2.4B	2.6B
Operating income	1.2B	596M	213M	-100M	188M	-50M	-21M	-85M	372M	705M
Operating margin	28.7%	20%	7.06%	-3.24%	5.96%	-1.96%	-0.82%	-3%	10.6%	17.8%
Non-operating income, net	128M	-3.2B	-1.4B	-481M	-175M	12M	-7M	-262M	-583M	-3.1B
Pretax income	934M	-3B	-1.8B	-1.2B	-541M	-470M	-562M	-941M	-523M	-2.9B
Income tax	107M	94M	228M	59M	27M	121M	59M	13M	-11M	-33M
Net income	827M	-3.1B	-2B	-1.3B	-568M	-591M	-621M	-954M	-512M	-2.9B
Net margin	19.9%	-104.2%	-66.4%	-40.7%	-18%	-23.1%	-24.1%	-33.7%	-14.5%	-73.5%
EBITDA	2.2B	1.5B	1.2B	1.2B	1.2B	950M	853M	772M	1.2B	1.3B
EPS	2.1	-8	-4.27	-2.05	-0.92	-0.93	-0.89	-1.24	-0.6	-3.04
Diluted EPS	2.1	-8	-4.27	-2.05	-0.92	-0.93	-0.89	-1.24	-0.6	-3.04

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	713M	741M	763M	861M	948M	952M	906M	988M	1B	1B	1.1B	966M
Cost of revenue	192M	184M	185M	184M	190M	180M	176M	175M	161M	147M	143M	148M
Gross profit	521M	557M	578M	677M	758M	772M	730M	813M	867M	896M	938M	818M
Gross margin	73.1%	75.2%	75.8%	78.6%	80%	81.1%	80.6%	82.3%	84.3%	85.9%	86.8%	84.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	44M	50M	52M	59M	47M	56M	50M	49M	46M	50M	49M	56M
Operating expenses	568M	619M	575M	593M	610M	635M	668M	648M	630M	655M	655M	664M
Operating income	-47M	-62M	3M	84M	148M	137M	62M	165M	237M	241M	283M	154M
Operating margin	-6.59%	-8.37%	0.39%	9.76%	15.6%	14.4%	6.84%	16.7%	23.1%	23.1%	26.2%	15.9%
Non-operating income, net	4M	-34M	6M	9M	-604M	6M	6M	-1.2B	-2B	4M	—	-2M
Pretax income	-263M	-83M	-93M	33M	-525M	62M	-40M	-1.1B	-1.9B	82M	17M	184M
Income tax	-43M	21M	-191M	156M	-31M	55M	39M	-155M	26M	57M	-54M	14M
Net income	-220M	-104M	98M	-123M	-494M	7M	-79M	-938M	-1.9B	25M	71M	170M
Net margin	-30.9%	-14%	12.8%	-14.3%	-52.1%	0.74%	-8.72%	-94.9%	-187.1%	2.4%	6.57%	17.6%
EBITDA	177M	113M	219M	294M	357M	340M	250M	323M	332M	400M	443M	304M
EPS	-0.28	—	0.12	-0.15	-0.56	—	-0.09	-1.06	-2	—	0.06	0.15
Diluted EPS	-0.28	—	0.11	-0.15	-0.58	—	-0.11	-1.06	-2	—	0.06	0.04

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	5.4B	4.2B	—	—	1.4B	1.8B	3.2B	4.9B	—	—	5.9B
Enterprise value	10.8B	8.6B	—	—	8.6B	8.5B	10.3B	12B	—	—	10.6B
Shares outstanding	367M	391M	468M	612M	615M	637M	699M	768M	850M	960M	960M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	6.54	—	—	—	—	—	—	—	—	—	-1.74
P/S	1.3	1.4	—	—	0.45	0.69	1.24	1.72	—	—	1.46
P/B	0.34	0.33	—	—	0.12	0.16	0.3	0.47	—	—	0.72
EV/EBITDA	4.97	5.83	—	—	7.33	8.92	12.1	15.5	—	—	6.92
EV/Sales	2.6	2.89	—	—	2.74	3.32	4.01	4.23	—	—	2.58
Earnings yield	15.3%	—	—	—	—	—	—	—	—	—	-57.6%
FCF yield	11.8%	16.1%	—	—	9.36%	20.9%	-8.44%	-5.39%	—	—	14.8%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	78.5%	72%	72.9%	72.3%	75.2%	71%	71.5%	73.7%	79%	83.4%	84.7%
Operating margin	28.7%	20%	7.06%	-3.24%	5.96%	-1.96%	-0.82%	-3%	10.6%	17.8%	17.4%
Net margin	19.9%	-104.2%	-66.4%	-40.7%	-18%	-23.1%	-24.1%	-33.7%	-14.5%	-73.5%	-40.2%
ROE	5.23%	-24.4%	-15.3%	-10.6%	-4.97%	-5.27%	-5.75%	-9.16%	-4.98%	-36%	-18.7%
ROA	3.08%	-13.8%	-7.8%	-5.21%	-2.61%	-2.86%	-3.04%	-4.71%	-2.64%	-18.6%	3.55%
ROIC	4.99%	3.48%	1.02%	-0.5%	1.01%	-0.28%	-0.12%	-0.49%	2.19%	5.24%	7.05%
Return on tangible assets	3.08%	-13.8%	-8.32%	-5.49%	-2.7%	-2.91%	-3.06%	-4.71%	-2.64%	-18.6%	-10.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.57	3.36	2.71	2.11	1.98	1.88	1.29	1.52	1.47	1.56	1.59
Quick ratio	2.29	3.06	2.38	1.83	1.66	1.57	1.04	1.22	1.21	1.27	1.27
Debt / equity	0.54	0.58	0.76	0.83	0.73	0.69	0.72	0.75	0.7	0.74	0.61
Debt / assets	0.31	0.33	0.39	0.41	0.38	0.37	0.38	0.39	0.37	0.38	0.34
Net debt / EBITDA	2.49	3	6.29	6.93	6.13	7.07	8.36	9.18	5.53	4.1	3.12
Interest coverage	3.28	-5.12	-1.86	-0.82	0.06	-0.05	-0	-0.46	-0.44	-4.31	-4.31
Effective tax rate	11.5%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.3	7.6	6.45	5.05	5.13	4.01	3.68	3.69	4.15	4.13	3.83
EPS (basic)	2.1	-8	-4.27	-2.05	-0.92	-0.93	-0.89	-1.24	-0.6	-3.04	-3.04
EPS (diluted)	2.1	-8	-4.27	-2.05	-0.92	-0.93	-0.89	-1.24	-0.6	-3.04	-1.68
Book value per share	43.1	32.5	28	19.4	18.6	17.6	15.4	13.6	12.1	8.45	7.49
FCF per share	1.73	1.72	0.8	-0.08	0.22	0.58	-0.38	-0.34	0.23	0.65	0.75
Cash per share	8.32	7.59	4.62	2.92	1.88	1.53	0.98	0.99	0.66	0.65	0.46
Capex per share	—	—	—	—	—	—	—	—	—	0.13	0.08

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	3.1%	2.21%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	16.4%	9.15%
Payout ratio	0%	0%	—	—	—	—	—	—	—	—	0%
Dividend yield	0%	0%	—	—	—	—	—	—	—	—	11.4%

Yield

11.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Aug 21, 2015

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 21, 2015	$0.15
May 27, 2015	$0.15
Feb 18, 2015	$0.75
Nov 12, 2014	$0.75
Aug 20, 2014	$0.75
May 28, 2014	$0.75
Feb 19, 2014	$0.56

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$713M	$741M	$763M	$861M	$948M	$952M	$906M	$988M	$1B	$1B	$1.1B	$966M
YoY change	+3.18%	+22.3%	+17.6%	+18.1%	+33%	+28.5%	+18.7%	+14.8%	+8.44%	+9.56%	+19.3%	-2.23%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.1B	3B	2.2B	1.8B	1.2B	976M	683M	762M	560M	620M
Receivables	833M	596M	604M	654M	583M	492M	485M	512M	564M	540M
Inventory	561M	418M	474M	479M	434M	392M	388M	426M	439M	378M
Total current assets	5.1B	4.6B	3.9B	3.6B	2.7B	2.4B	2B	2.1B	2.5B	2.1B
Property, plant & equipment	-6.3B	-5.3B	-5.4B	-5.4B	-5.4B	-6.1B	-6.7B	-6.9B	-6.6B	-4.9B
Goodwill & intangibles	—	0	1.6B	1.2B	786M	346M	112M	8M	0	—
Total assets	26.9B	22.4B	25.7B	24.1B	21.8B	20.7B	20.4B	20.3B	19.4B	15.6B
Accounts payable	206M	201M	269M	311M	194M	228M	281M	323M	255M	242M
Short-term debt	724M	250M	373M	616M	550M	561M	766M	425M	740M	504M
Total current liabilities	2B	1.4B	1.5B	1.7B	1.4B	1.3B	1.6B	1.4B	1.7B	1.3B
Long-term debt	7.7B	7.1B	9.6B	9.3B	7.8B	7.1B	7.1B	7.4B	6.5B	5.5B
Total liabilities	11.1B	9.7B	12.6B	12.2B	10.4B	9.5B	9.6B	9.8B	9.1B	7.5B
Shareholders' equity	15.8B	12.7B	13.1B	11.9B	11.4B	11.2B	10.8B	10.4B	10.3B	8.1B
Total debt	8.5B	7.4B	10B	9.9B	8.4B	7.7B	7.8B	7.9B	7.2B	6B
Net debt	5.4B	4.9B	7.8B	8.1B	7.2B	6.7B	7.1B	7.1B	6.7B	5.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	594M	762M	446M	475M	435M	560M	263M	377M	833M	620M	330M	509M
Receivables	532M	512M	585M	607M	594M	564M	551M	577M	574M	540M	638M	604M
Inventory	410M	426M	437M	440M	425M	439M	453M	427M	382M	378M	383M	379M
Total current assets	2B	2.1B	1.9B	2.1B	2.3B	2.5B	2.2B	2B	2.4B	2.1B	1.8B	1.9B
Property, plant & equipment	-6.8B	-6.9B	-7.1B	-7B	-6.4B	-6.6B	-6.7B	-6.2B	-4.7B	-4.9B	-5B	-5.1B
Goodwill & intangibles	22M	8M	0	0	0	0	—	—	—	—	—	—
Total assets	20B	20.3B	19.9B	20.3B	19.5B	19.4B	19B	17.8B	16.2B	15.6B	15.2B	15.2B
Accounts payable	316M	323M	301M	296M	255M	255M	273M	253M	232M	242M	229M	283M
Short-term debt	320M	425M	463M	526M	457M	740M	712M	666M	1.4B	504M	329M	397M
Total current liabilities	1.2B	1.4B	1.4B	1.6B	1.4B	1.7B	1.7B	1.6B	2.2B	1.3B	1.1B	1.2B
Long-term debt	7.1B	7.4B	6.8B	6.8B	6.5B	6.5B	5.9B	5.9B	4.8B	5.5B	4.9B	4.7B
Total liabilities	9.7B	9.8B	9.4B	9.6B	9.3B	9.1B	8.8B	8.5B	8.1B	7.5B	7B	6.8B
Shareholders' equity	10.3B	10.4B	10.5B	10.7B	10.2B	10.3B	10.2B	9.4B	8.1B	8.1B	8.2B	8.4B
Total debt	7.4B	7.9B	7.3B	7.3B	7B	7.2B	6.6B	6.6B	6.2B	6B	5.3B	5.1B
Net debt	6.8B	7.1B	6.8B	6.8B	6.5B	6.7B	6.4B	6.2B	5.4B	5.4B	4.9B	4.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	827M	-3.1B	-2B	-1.3B	-568M	-591M	-621M	-954M	-512M	-2.9B
Depreciation & amortization	893M	832M	930M	1B	996M	962M	852M	796M	743M	659M
Stock-based compensation	42M	41M	45M	37M	31M	28M	29M	40M	47M	35M
Change in working capital	195M	94M	129M	-301M	-414M	-77M	-94M	-233M	-254M	-109M
Operating cash flow	2B	-2B	-906M	-281M	-345M	476M	446M	-112M	-186M	749M
Capital expenditure	—	—	—	—	—	—	—	—	—	-123M
Investing cash flow	31M	-90M	-613M	119M	8M	-25M	-40M	4M	103M	-33M
Dividends paid	0	0	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	176M	-1B	-147M	-312M	-930M	-490M	-124M	263M	-350M	-660M
Net change in cash	2.2B	-3.1B	-1.7B	-474M	-1.3B	-39M	282M	155M	-433M	56M
Free cash flow	636M	673M	374M	-47M	133M	367M	-269M	-263M	193M	626M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-220M	-104M	98M	-123M	-494M	7M	-79M	-938M	-1.9B	25M	71M	170M
Depreciation & amortization	200M	191M	189M	184M	190M	180M	176M	175M	161M	147M	143M	148M
Stock-based compensation	10M	10M	11M	15M	12M	9M	8M	8M	10M	9M	8M	7M
Change in working capital	-122M	150M	-234M	1M	-35M	289M	-73M	-84M	-33M	123M	-154M	33M
Operating cash flow	-52M	154M	-93M	126M	-418M	486M	28M	128M	246M	349M	164M	236M
Capital expenditure	—	—	—	—	—	—	—	-24M	-11M	-28M	-28M	-24M
Investing cash flow	10M	0	42M	11M	48M	2M	2M	-16M	23M	14M	10M	-10M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-142M	309M	-152M	99M	-259M	-38M	-218M	-35M	-212M	-616M	-556M	-30M
Net change in cash	-184M	463M	-203M	236M	-629M	450M	-188M	77M	57M	-253M	-382M	196M
Free cash flow	-94M	-122M	-169M	49M	136M	177M	-34M	104M	235M	321M	136M	212M

Date	Ratio
Nov 27, 2007	6996:10000
Sep 22, 1997	2:1

Transocean Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history